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TechCrunch Minute: Where CZ’s sentencing leaves the state of crypto
Changpeng Zhao is going to jail for four months and set to pay a $50 million fine for allowing money laundering on his crypto-trading platform, Binance. This is the latest crypto conspiracy to land a former-CEO in jail. Could this be the moment that allows crypto to turn over a new leaf?
There’s effort by some in crypto to promote the technology element of blockchains over their well-reported ability to generate new gambling opportunities. Because that means that crypto can itself sit very close to the larger world economy, and thus the computing elements of blockchain tech can shine, attract investment, and provide the most use. After all, to get close enough to kiss tradfi and normal business operations so that the web3 computer can reach its full potential, you might wind up with more tokens as securities than many crypto advocates wish.
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